Washington University in St Louis came out as highest and winning bidder for a stake in venture firm General Catalyst Partners. The stake was sold by New Jersey’s pension fund for $14.1m. Its net value is $12.7m.
The original acquisition by New Jersey’s pension fund – worth more than $80bn – had been the subject of investigations, as auditors found irregularities. Charles Baker was running for Massachusetts governor while being executive-in-residence at General Catalyst at the time. Baker lost the…
